Skip to main content

Financial/Banking

  • Sears loss narrows but sales fall 25%; prepares for launch of $2.6 billion REIT

    Hoffman Estates, Ill. – A reduction in selling, general and administrative expenses helped Sears Holdings Corp. reduce its first quarter net loss even as its sales continued to slide. The results came in as the chain prepares for the launch of its real-estate investment trust this week to raise cash. Sears said it expects the REIT transaction to raise $2.6 billion.

  • Apple Pay adds select retail credit cards, rewards programs

    Cupertino, Calif. – Apple Inc. is enacting a number of significant enhancements to its Apple Pay mobile payment app, including adding support for rewards programs and store-issued credit and debit cards. During a June 8 keynote address at Apple’s Worldwide Developers Conference (WWDC), Jennifer Bailey, VP of Apple Pay, said that retailers, including Dunkin' Donuts, Walgreens, Wegmans, and Kohl's, will support the new reward card functionality.

  • Dick’s names ex-Kraft, P&G exec CFO

    Dick’s Sporting Goods named veteran consumer packaged goods finance executive Teri List executive vice president and CFO to oversee the retailer’s finance and legal organizations.

  • Dick’s Sporting Goods appoints Kraft finance head as CFO

    Pittsburgh – Dick’s Sporting Goods Inc. has appointed Teri L. List-Stoll as executive VP/CFO, effective August 2015.

     List-Stoll joins Dick’s with 30 years of experience. Prior to joining the company, she was employed by Kraft Foods Group from September 2013 to May 2015, serving as executive VP and CFO from December 2013 to February 2015. Before her role as CFO of Kraft, she served as senior VP of finance from September to December 2013.

  • GE Capital: Mid-market retailers sound positive note

    New York -- Just under half of retail firms expect industry expansion, and over two-thirds will consider seeking additional financing in the coming year. And 45% believe the sector will expand in the year ahead. That’s according to a survey by GE Capital of C-suite executives at middle market companies (ranging from $10 million to less than $1 billion in sales).

    Performance in the middle-market retail sector was positive over the past year, the survey found, with 75% of firms reporting improved year-over-year financial performance.

  • New Zealand approves Staples-Office Depot merger

    Framingham, Mass. – The proposed $6.3 billion merger of Staples Inc. and Office Depot Inc. has cleared a global regulatory hurdle. Staples has received clearance from the Commerce Commission of New Zealand to acquire all the outstanding shares of Office Depot, which trades in New Zealand as OfficeMax.

  • Robert Almond, Jr., named CEO of Nest

    Gloucester City, N.J. — The board of directors of Nest announced that Robert Almond, Jr. will take over as CEO of Nest, a 20-year-old multi-facility business advisor specializing in consulting, technology and financial solutions.

  • What to Do When Activists Attack

    Today, CEOs and corporate board members of retail chains must run simply to stand still. Executives of publicly traded retailers face intensive pressure from activist investors to quickly and decisively increase shareholder value. Activists are known to secretly accumulate a significant stake in a company and without notice blind side the CEO with risky restructuring plans, force firms into unwanted mergers to removing board members and CEOs that disagree with their speculative strategy.

X
This ad will auto-close in 10 seconds